Duality Advisers LP lifted its stake in The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 163.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,781 shares of the technology company’s stock after purchasing an additional 7,925 shares during the quarter. Duality Advisers LP’s holdings in Trade Desk were worth $778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the company. BOKF NA purchased a new position in Trade Desk in the first quarter worth about $26,000. Vestor Capital LLC purchased a new stake in Trade Desk during the 1st quarter valued at $67,000. Baldrige Asset Management LLC purchased a new stake in Trade Desk in the 1st quarter worth about $30,000. MUFG Americas Holdings Corp bought a new position in Trade Desk in the 3rd quarter valued at $30,000. Finally, Parkside Financial Bank & Trust grew its stake in Trade Desk by 42.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 625 shares of the technology company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. 68.23% of the stock is currently owned by hedge funds and other institutional investors.
Trade Desk Trading Down 2.3 %
Shares of TTD opened at $83.38 on Monday. The firm’s fifty day simple moving average is $81.94 and its 200-day simple moving average is $71.50. The firm has a market capitalization of $40.87 billion, a price-to-earnings ratio of 320.70, a PEG ratio of 7.43 and a beta of 1.72. The Trade Desk, Inc. has a twelve month low of $39.43 and a twelve month high of $91.85.
Trade Desk (NASDAQ:TTD – Get Free Report) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). Trade Desk had a net margin of 7.46% and a return on equity of 6.43%. The firm had revenue of $464.25 million during the quarter, compared to analysts’ expectations of $455.21 million. On average, analysts predict that The Trade Desk, Inc. will post 0.48 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on TTD shares. Evercore ISI upped their price target on shares of Trade Desk from $75.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. TheStreet upgraded shares of Trade Desk from a “c” rating to a “b” rating in a research report on Wednesday, August 9th. Piper Sandler lifted their price objective on shares of Trade Desk from $77.00 to $100.00 in a report on Friday, July 14th. KeyCorp boosted their target price on shares of Trade Desk from $75.00 to $100.00 in a research note on Tuesday, July 18th. Finally, Morgan Stanley upped their price objective on shares of Trade Desk from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.48.
Insiders Place Their Bets
In other news, insider Jay R. Grant sold 38,980 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $88.88, for a total value of $3,464,542.40. Following the completion of the sale, the insider now directly owns 162,628 shares of the company’s stock, valued at approximately $14,454,376.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Trade Desk news, insider Jay R. Grant sold 1,427 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $75.03, for a total transaction of $107,067.81. Following the sale, the insider now owns 154,636 shares in the company, valued at approximately $11,602,339.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jay R. Grant sold 38,980 shares of Trade Desk stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $88.88, for a total value of $3,464,542.40. Following the sale, the insider now owns 162,628 shares of the company’s stock, valued at approximately $14,454,376.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,627 shares of company stock valued at $6,204,371. 10.81% of the stock is owned by company insiders.
Trade Desk Profile
The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.
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